For the last many years, workflow management (WFM) has been the focus of intense activity in terms of products, standards and research work worldwide. WFM integrates concepts from many areas of computer science. Numerous workflow companies, and industrial and academic research groups are in existence now. Several conferences and workshops relating to WFM are being held regularly. The popularity of the worldwide web, extranets and electronic commerce is further increasing the desirability of standards in the workflow arena to enable interoperability. The recent emphasis on supply chain reengineering as a means of reducing costs and improving responsiveness is also a factor in this regard. In this extended abstract, which is a condensed version of a paper which appears in the proceedings of the NATO Advanced Study Institute in Workflow Management and Interoperability held in Istanbul in August 1997, I briefly summarize the recent trends in WFM products, standards and research. I address technical as well as business trends.